01.02.201908:48 Forex Analysis & Reviews: Forecast for EUR/USD on February 1, 2019

EUR/USD

Unfortunately, the euro exit over the level of 1.1500 yesterday turned out to be false. The reason for this was very strong data on sales of new homes in the US - the November New Home Sales was 657 thousand compared to the forecast of 569 thousand and the previous figure was revised from 544 thousand to 562 thousand. A quick price reversal formed a technical divergence on the four-hour chart. Marlin oscillator lines just as quickly moved into the negative zone. The initial conditions for the price reversal for the medium term are fulfilled. Now it is worth waiting for the confirmation of the signal by fixing the price under the Krusenstern lines on both scales, this is the range 1.1397-1.1417. However, much depends on the release of today's data on employment in the United States. The forecast for new jobs created in non-agricultural sectors in January is 165 thousand after 312 thousand in December. The unemployment rate is expected to remain unchanged, 3.9%. If the data does not fail, we wait for the price to go under the specified support range, after which we expect a decline to 1.1302. Further 1.1262.